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Standardization
The policy or practice of
identifying a specific or group of goods or
services with set specifications to be procured
by an entity or through an agreement with
other entities (e.g., fleet vehicles).
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Standardization of Specifications
The process of
establishing a single specification for an item
or range of items.
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Standards (Standardization) Committee
Generally, an internal committee consisting of
cross-functional representation including
procurement, end users, and other internal
stakeholders impacted by the decisions of the
committee. Examples of key functions and
activities include: 1) developing standards
through a simplification process for
designated products and services, 2)
establishing specifications, 3) reviewing items
to determine which should be incorporated
into a standards program, and 4) approving
products for a qualified products list.
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Standing
Normally associated with judicial
actions, the legal right of a person, company,
or other legal entity to initiate a lawsuit by
demonstrating to the court sufficient harm to
a legally protected interest to support that
party’s participation in the case. For example,
the ABA Model Procurement Code generally
limits judicial standing in bid protest litigation
to potential or actual contractors. See also:
Interested Party.
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Standing Offer
An offer from a supplier to
provide goods or services when needed under
a pre-arranged set of terms, conditions, and
prices.
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Standing Order
An order similar to a blanket
order, except with specified quantities and
delivery dates. See also: Blanket Order.
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Stare Decisis
Latin phrase meaning, "To stand by
things decided." A judicial doctrine in which
courts follow the standards, rules, and
principles of previous court cases that share
the same set of facts (a precedent).
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Startup
A company in the first stages of
operation founded by one or more
entrepreneurs to develop a unique good or
service and bring it to market.
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State-Use Law (Industries)
State or federal law or
executive order that creates a preference for
entities to purchase goods or services
produced or provided by correction/prison
industries.
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Statement of Account
A detailed listing, usually
prepared by the supplier, of transactions
taking place over a stated period, usually
concluding with the open or unpaid balance.
